Starting a business may seem like a difficult feat. However, depending on the legal structure of your business, you can launch your venture with ease. Choose from a variety of business models and legal entities that can be started with little or no formal filing in most states.
Sole proprietors are considered to be one and the same as their business entity. This is the most common type of small business. If your business name is different from your personal name, you must register with your county or city using a DBA (Doing Business As) application. However, DBA filing fees are insignificant in comparison to forming a corporation or LLC (Limited Liability Company), and a sole proprietorship requires less paperwork to maintain each year.
You can start a network marketing business without any legal filing requirements. Simply sign up through a networking marketing company’s website. You can choose from a variety of products to sell ranging from online shopping memberships to cosmetics. This type of business works well for entrepreneurs who do not want the administrative burden of running a business. Also, networking marketing businesses require relatively little capital to get started. With the completion of an application, you can have your own business immediately.
If it can be proven that you conduct business in a partnership with someone else, your business is considered to be a general partnership. General partnerships involve two or more people engaged in activity for a profit. Partnerships, like sole proprietorships, require little paperwork to form. If you both are operating under your own names, there is no required paperwork. However, to avoid problems, partners should draft an operating agreement or contract outlining the expectations of each partner and how profits are distributed within the partnership.
Start a consulting business. Many consulting businesses require no overhead costs to get started, and you are considered a sole proprietor since you are operating under your personal name. This easy business model requires only intellectual capital plus the time you take to market your services. Many consultants are based in their homes and take on as few or as many clients as often as they like. Once you determine you are a consultant, the business is formed.